HyVision System invests 1B won for 81.6% stake in 3D printer subsidiary Cubicon

Jul 10, 2017 | By Tess

HyVision System Inc., a South Korean manufacturer of digital convergence products and vision system technologies, has announced it will be establishing a 3D printing subsidiary called Cubicon. HyVision will use Cubicon to strengthen and expand its 3D printing business.

Cubicon Lux 3D printer

3D printer enthusiasts might recognize the name Cubicon, as last year HyVision released a number of 3D printer models under the name. Specifically, the Korean tech company introduced the Cubicon Single Plus, an FDM industrial 3D printer, and the Cubicon Lux, the company’s first DLP 3D printer. Its previous 3D printing products include the Cubicon Style and Cubicon Single 3D printers.

Now, after seeing some success, HyVision is aiming to increase its stake in the 3D printing industry in a significant way. According to a recent press release, the company has invested 1 billion won (US $869,650) to buy 2 million shares in the newly established subsidiary. The investment will make HyVision System Inc. a majority share owner of the 3D printer company with 81.6 percent of its shares.

Cubicon will reportedly inherit HyVision’s 3D printer brand of the same name. HyVision says its 3D printing sales have gone up significantly over the last three years, from 200 million won (US $173,918) in 2014, to 2.3 billion won (US $1,999,758) in 2015, to 5 billion won (US $4,347,300) in 2016. The company, which expects even more growth for its 3D printer sales in the coming years, is confident that Cubicon will become financially stable in no time.

HyVision System also added that its Cubicon 3D printer brand has had more that 4,000 cumulative sales since its launch in 2014. "We have had time to grow our 3D printer business through incubation of our headquarters for the past three years,” said HyVision System Inc. CEO Doo-Won Choi.

Cubicon Single Plus 3D printer

He added that Cubicon is expected to draw attention and benefit from a variety of small and medium-sized enterprises (SMEs), and will attract investments from venture capital (VC) firms that specialize in 3D printing technology. Taking into account South Korea’s current climate of bolstering and advancing its 3D printing market, Cubicon is also expected to participate in national additive manufacturing-related projects.

At present, HyVision System Inc. has indicated that its existing 3D printing personnel will be transferred to Cubicon, “so that 3D printer-related sales are excluded from separate financial statements but will be maintained in consolidated financial statements.” As the subsidiary advances, the company says it will strengthen its R&D and sales capacity by bringing on new team members.